Bank of Japan’s Kuroda warns rapid yen moves undesirable, after meeting with PM Kishida

BANK of Japan Governor Haruhiko Kuroda said on Friday he discussed currency market moves at a meeting with Prime Minister Fumio Kishida, and warned that rapid yen moves were undesirable.

“When the yen is moving 1 to 2 yen per day, that’s a rapid move,” Kuroda said, when asked about recent moves in the Japanese currency. “We will watch exchange rate moves carefully,” he told reporters after the meeting.

Kuroda said the meeting was among the occasional catch-ups the two sides hold to discuss broad economic and financial matters.

The remarks came after Finance Minister Shunichi Suzuki said on Friday that the government would not rule out any options on foreign exchange moves, repeating a warning by the country’s top currency diplomat, vice-finance minister for international affairs Masato Kanda, on Thursday. REUTERS